click to show more information

click to hide/show information About this Show

Countdown to the Closing Bell

News/Business. Stock market updates. New.

NETWORK

DURATION
01:01:00

RATING

SCANNED IN
San Francisco, CA, USA

SOURCE
Comcast Cable

TUNER
Channel v761

VIDEO CODEC
mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
1280

PIXEL HEIGHT
720

TOPIC FREQUENCY

Liz 8, California 5, Steve Balmer 4, America 4, Us 4, Balmer 3, Denver 3, Bob 3, At&t 3, Omg 3, Cialis 2, Underarm 2, Oracle 2, New York 2, Vick 2, Ben Affleck 2, Chihuahua 2, George Clooney 2, Charlie 2, Crm 2,
Borrow a DVD
of this show
  FOX Business    Countdown to the Closing Bell    News/Business. Stock  
   market updates. New.  

    August 23, 2013
    3:00 - 4:01pm EDT  

3:00pm
♪ liz: good afternoon on this friday, i'm liz claman, the last hour of trading, another huge day for investors after yesterday's flash freeze at the nasdaq freezing the exchange and trading on it. big changes coming to one of the most profitable companies. steve balmer, long time ceo of microsoft announces plans to step down within the next 12 months. how do investors view balmer? look at the stock move. they are happy he's moving on. stock is jumping seven and a quarter percent making him a much wealthier man because he owns so much stock in it, but as it shoots higher, that represents 19 points of the dow's 23 point gain when you
3:01pm
look at how it's weighted. there's a big move there with microsoft holding the gains. we hit the high of the session minutes ago. much more on steve balmer's resignation, but now, much more importantly, who gets the nod as his successor? if you got excited about a housing recovery, hold your horses for a moment. new home sales for the month of july fell 13.4% to a 394,000 annual rate. that is the lowest number since last october. rising interest rates, of course, could be the culprit with the 3 30e-year jumping but it's important to remember monthly data are volatile and subject to large revisions. remember, it's just the opposite this week when we got existing home sales, totally opposite of new home sales, but that number jumped to the highest level since 2009 due to buyers racing to beat rising interest rates, but, again, we don't see that with new home sales. interest rate on 30-year mortgage nearly doubled since
3:02pm
may to around 4.85%, still low a fox exclusive with the ceo of the first housing company to go public after tripoint homes, making several homes in america, and the stock struggled since the january ipo, no doubt, because of the slow down here. shares of microsoft take off after news of steve balmer leaving in 12 months. live to nicole on the floor of the new york stock exchange. looking at the stock and his legacy. >> right, his legacy, been with the company for 30 years, liz, at the helm, moved up to the top spot, but under scrutiny as of late because of microsoft, surface tablet was not a huge success, and has now announced a reorganization of the company and is waiting now until he can find a successor to step down from the chief executive role looking internally and externally for the best candidate. the analysts are mixed.
3:03pm
some talk about an external candidate bringing in a new climate for the company while others say there's so many great candidates within microsoft. either way, we know that within 12 months, steve balmer will be retiring after over 30 years at the company, he wrote a memo to the employees at microsoft, talking about how much he loves the company, but they are moving into smart phones and tablets and expanding in another way, and he realizes that maybe now it's time for a change. >> x box, that has been a winnerment i don't know how -- >> no doubt. liz: certainly, as the ceo, got to give him credit for that. >> i thought you'd ask how many we'd have in our home. liz: more than one? >> just one, but we need a second. liz: all right. i'm the mean mom in the room here, not allowing that. the nasdaq, get to that. of course, microsoft doing serious damage control today after yesterday's three hour
3:04pm
trading freeze which left investors and, of course, traders in the dark. this morning, i went to the nasdaq, down in times square to speak one-on-one with the nasdaq ceo about how that flash freeze impacted all investors. >> nobody wanted to be down for three hours, and if we had been quite wreckless, we could have been up sooner than that, but the procedures in place, the industry in place workedded well so we would say to any technology based company, we're not perfect; right? we're 99.99% perfect. we're not perfect. we have problems. if we do, we maintain a fair and orderly market. that's what we did yesterday, and it's important to recognize the fact we didn't trade for several hours. if you're a traditional long investor, mom and pot institutional investor, that three hours doesn't matter. you buy in the stock for the longer period of time; right? the fact is, every single person was in the same situation. nobody was relatively advantaged or disadvantaged because the
3:05pm
market was down. liz: i'll say that probably didn't sit well with some very sophisticated mom and pop investors who jump in and out of stocks. there's many out there. we talk about that, and more including what i asked the ceo to do, which was give me a 30-second pitch. pretend i'm twitter, not public, how do you convince twitter to go public when you have the facebook problem in the ipo a year ago, may, where that ipo was not smooth on the nasdaq, and then, of course, yesterday's flash freeze. charlie also just off the phone with bob, fox business network not just taking one sentence at its face value. charlie jumped in here, he has breaking news on the conversation with bob, but he's also been working the phones about the fcc investigation that may be in full swing soon on the situation. the dow jones industrial's on track for the third weekly decline in a row making it the
3:06pm
longest losing streak since november 16th. to the floor show. traders all over the place. teddy, let's not make more of this than is necessary. three weeks in a row, a slow grind down against a slow grind up that we saw for quite some time. >> well, yeah, i mean, listen, you know, yesterday and today, obviously, up is better than down, liz. you know, we've done a lot of short term damage, very, very slow time of the year. this week, next week, you know, you can't really make much of the volume, but there really isn't in, and it's probably a mistake to sell a dull market short, but, you know, i think we'll take it even if most is microsoft, but what's interesting, and the question would be what's more important? the new head of microsoft or new fed chairman? i wonder what has a bigger impact on the market? liz: glad you brought it up. we have peter barnes live, and, of course, in jackson hole where nay are all congregating, and as
3:07pm
i look at treasuries, their behavior, especially the yields, really respond to what comes out of that kind of meeting, specifically we're at 2.8% for the 10-year yield. earlier this year, it was 2.9. what are you talking and what are the traders talking about? >> we are bumping up against the 292 level that jappedded overnight, i believe -- happened geyser night, i believe, wednesday night. there's a yield for certain, but as you saw how it was priced in quickly, i think it's really indicative of the way that housing is starting to look at things, and at the same time, how dampers rates for so long were just ready to bust out of the gates and, of course, we had that. with really, not a lot of volatility. liz: not a lot. what do you expect next week, particularly quiet, teddy, is it not? >> very, very quiet, liz. i mean, you know, you can have, you know, it's a tossup. maybe we have a short term
3:08pm
bottom here, maybe things drift higher, maybe not a big news week. it's really all about the fed. we are hostage to the fed. we are hostage to the fed's tapering, whatever they are doing, and i guess now we're hostage to who replaces ben bernanke. liz: yeah, i know. we're not hostage to lower oil prices. i wish we were. allen, everything's jumping, looking at a pretty significant move up, well, one and a quarter percent, something more exciting than seen in the past for crude this week. >> unfortunately, for us going to the gas pump, not sod good, but crude oil rallied above 106.20 and settled above that. what i see right now is higher levels for crude oil. there's a lot of world events coming a, disruption in the middle east, problems over in israel and lebanon, problems in egypt, going to keep a good pressure on the market, up, and i think we're going to see 108.50 to 110 in crude oil in the next week.
3:09pm
liz: each time they sit in the chair, i get something different. you know, mike said 102 # or 103. great seeing you. thank you so much. we love the perspective from the traders. have a good weekend. closing bell ringing in 51 is minutes as we speak about microsoft's ceo, balmer, announces he quits in a couple months. who replaces him? that's the question. can microsoft build a smart phone and tablet to beat apple and samsung. they tried with the surface, had popup stores, didn't work. we have the angles, plus, two smart watchers gaming who will run the company. texting addicts, pay attention. text speak has been around so much longer than your teens have been doing it. it was used by a true authority in the queens english. you'll text "omg" and "lol" when you find out who.
3:10pm
♪ she loves a lot of the same things you do. it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet
3:11pm
approved to treat ed and symptoms obph, like needing to go frequently or urgently. tell your doctor about all your medical and ask youheart is healthy enough for sexual activity.s, do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision, or iyou have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or sllowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial.
3:12pm
folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn.
3:13pm
liz: at some point or another, many of you owned the shares of microsoft. well, shares stock down 35% since the ceo took the reigns
3:14pm
from bill gates back in january of 2000. it looks like today's announcement that balmer is retiring gives investors a reason to buy. should you jump in now? jamie cox, managing partner, and vick, ceo of jaguar financial, to talk about this. starting, jamie, with this question. now that steve ballmer leaves, does that make you excited about the stock? yes or no? >> no. this company, i think the company's fine, but it just, the ceo being changed does not change my opinion about the stock one bit. if you own it into the announcement, you're fine, but i don't think this gives you any decision because you don't know who the know ceo's going to be, and the business has not changed yet. it's not a buy. liz: vick, when your daughter says, how do you i look, you don't say "fine," and that's like saying ick. jamie said "fine," and not to
3:15pm
take this video out of context, running around years ago getting excited, but, vick, do you like the stock now that he's out his way out in >> very much so. i think it's a huge change. i think, ultimately, there's going to be a culture change within microsoft. it's been very engineering oriented. i think the new ceo will come from the outside, despite the fact that they are in very strong candidates internally. i think the special committee with bill gates on it, thompson heading it up, looks for p somebody dynamic to transform the culture. i see a massive change in microsoft. i see $45 on the stock -- liz: 45? it's not seen that -- >> absolutely. liz: i can't remember the that's time it saw that. who do you think has the lead when it comes to the race to be ceo? >> i have two names. fist is tony beats, an internal candidate, former ceo of skype, the only part of microsoft that uses a verb, and it's the most
3:16pm
exciting thing going for it right now. he would be the leading candidate internally. but if they are playing it safe, playing in the enterprise business, you might go for a mark herd at oracle, or if you want to go out there and jump out in front, you'd want a social candidate like a jeff wieners. there's some candidates out there, but i think microsoft goes safe, nothing transformative, but a mike herd type candidate. liz: i like the names, but i think that microsoft is still very much part of the harder wear opportunity, vick. you know, they have the xbox, sweets of packaged software they sell. who are your candidates? >> well, again, i would say somebody like nikesh from google, rumored to be the ceo of yahoo. you need a marissa meyer type to come in and transform the organization. the organization is mar too
3:17pm
engineering oriented as i mentioned. i think it has to be a little more hip, a little more cool and seeing what comes around the corner, and that's what they have not done historically. they missed the move on smart phones, obviously, and missed it on tablets, and we can't afford to do that going forward. liz: well, that sounds like say, for example, hp, while the stock has performanced well, they still struggle when it comes to the hardware pieces that are to be exciting, but can't have a great smart phone, so that -- i guess major issue might be, is this company just too big to govern, jamie? do we need parts of it to split off? >> that's a tough one. microsoft is not your typical company that has verticals easy to split off in terms of your consumer, the windows business, consumer, enterprise, everything is connected, even the browser business is connected. it's more difficult to do than what meets the eye.
3:18pm
you can make the case that some of the parts are definitely worth more than the whole, but that's a difficult thing to do at microsoft to break it up. it was designed to be integrated with the productivity applications like office, and breaking this apart would be difficult in my opinion. liz: can they catch up to the sexier technology companies out there right now? >> well, you know, the leaders are google and apple, obviously, and amazon is a giant in its own business, and i think microsoft can, but it has to use its massive cash machine for other purposes, and that is to increase the dividend and also to increase the stock buyback. should be 70 billion in five years, but in addition, it has to move into other product lines and go big on the cloud. liz: love your creativity, guys, for who you think takes over. we'll remember tony beats, mark herd, wiener of linkedin. we'll watch them all. jamie cox and vick, good to see
3:19pm
you both, thank you. >> thanks for having us. >> thank you. liz: any crime. coming up, 4 p.m. eastern, will the former executive who worked under steve ballmer and publicly called for him to retire. he's not been a fan, certainly, but let's see who he thinks could be the guy or woman to take over microsoft. closing bell rings in 40 minutes. the nasdaq's still reeling from yesterday's dramatic three hour outage from a pr standpoint because it halted trading for more than 2,000 stocks leaving people wondering, where are you guys? more from the ceo and the 30-second pitch on why twitter should want to launch its ipo on the nasdaq and not the new york stock exchange, and, holy smokes, forget christian bale, there's a new boston disent, a
3:20pm
high stakes gamble by one of hollywood's top studios. we'll bring you the inside scoop. ♪
3:21pm
join us at projectluna.com
3:22pm
3:23pm
3:24pm
liz: investorses and traders suffering from a hangover after the flash freeze on the nasdaq. we have more with the man in the cross hairs. i spoke with the ceo and asked, why the nasdaq was barely heard from in the dramatic moments yesterday. >> well, our communication system, i think, worked well yesterday. it can always be improved. first order of business is to focus on solving the problem, and then dealing with people directly involved with the problem. now, in one of the open lines, we had people representing our issues on the call, and they were there to give regular updates out. we gave the formal update out after the close of trading, which we wanted to do. i think we did well. we'll certainly reflect upon how
3:25pm
we communicate to do better. liz: can't you hire somebody to work the phones and call the offices -- >> oh, they were doing that. oh, no, we had teams of people doing that. that's what i'm saying. we had the people responsible for the issues on the open line to hear firsthand what was going on. they took inbound calls, took hundreds of calls, making outbound calls, and there was active communication going on. in this type of situation, you can't get to every ceo, but we got to a large number of them, deeply disappointed with what happened yesterday, and what we have to do is improve what i call defensive driving. our system by itself was working, but you have interconnections in the world we live in today, and we have to handle bad actions from some of the people connected to us. we have to improve on that.
3:26pm
we have a first and foremost responsibility for fair and orderly markets. we spent two and a half hours making sure the entire industry, open telephone lines with them, the entire industry's ready to come live, and we came live quite successfully, and we finished the day in normal course of business. it's important to recognize that we aspire towards perfection with respect to the operations of our systems, and technology people, twitter, and other companies, recognize that. we'll always fall short of that, but we have to keep trying; right? we have to get better all the time, and the number of problems have declined, but as importantly, we have to make sure we handle our problems in the proper way. we did yesterday; right? nobody wanted to be done for three hour, and if we had been wreckless, we could have been up a lot sooner than that, but the procedures in place, the industry in place worked well, so we would say to any technology based company, we're not perfect; right?
3:27pm
we're 99.99% perfect, we're not perfect. we have problems. if we do, we're going to make sure we maintain a fair and orderly market, and that's what we did yesterday. liz: you just heard me ask bob how he would pitch twiter to ipo on the exchange. not sure if twitter listened, but we may have clarity as to when the social networks companies goes public and who might be involved. fox business senior correspondent is here with exclusive details. >> well, what we know now is that the nasdaq and i don't think it's directly bob, but maybe it is, is now pitching, pitching directly twitter, and so is the new york stock exchange so the bidding war for the listing of the twitter ibo on the listing of the major exchange, and maybe they throw in as well, but i know what sources tell the fox business network that both the nasdaq as well as the new york stock exchain are now pitching twitter for its listing business for potential ipo where both parties
3:28pm
see the ipo occurring sometime in 2014, sometime over the next nine months. how many are we out? five months; right? sent, october, november, december, four monthings. from what i understand, it's impossible to know exactly what's going to happen here, like timing, but what they talk about, 2014 for the ipo, that's the likelihood, and both the nasdaq and new york in preparation for that are pitching. now, is there a possibility that they don't do an ipo? of course. i -- this cor spoons with reporting on this show about twitters' plans that it was not going to happen this year, but maybe next year, and right now, with the exchanges in the mix, that's a big deal meaning they know it's coming, and from what i understand, new york and nasdaq are involved. now, i asked him -- i had an interview with bob an hour ago, and i asked about twitter, and he gave me the same talk around this, but what i'm telling you is that these are what the
3:29pm
sources are saying, and they are directly involved in the matter. bob made a couple interesting comments in my interview. i've been very critical of the scc and its response to the technology and market issues they have not done enough, and apparently, what they told me is the they are planning some sort of joint -- a way to address this in a sort of blue ribbon panel to get all exchange operators in the room and figure out how to be better at technology, ensure technology is right. they are taking it serious, how can you not, and mary schapiro, great person, did a great job, but one issue she didn't do a great job, i believe, the market structure, but mary jo white says it's a flash point. they pointed out, you know, one of the things the nasdaq got heat for is communications. i actually agree with him doing a great job community kateing to
3:30pm
large investors to -- liz: couldn't issue a release? >> i'll tell you how you get around that, but i have a point. large investors to sort of the major customers knew what was going on, which is how i knew what was going on. he did not do a good job with the media. he's looking for ways, if it happens, you know, in terms of crisis, happens again, they'll directly communicate with the media rather than going through, you know, think of it this way, you had an e--trade account, logged in into the account, you knew what was going on because they got the notices from nasdaq and sent notices out. what i think he needed to do is send notices directly to the media so we were kept abreast. i asked about bats and direct edge. you know, these are two other exchanges that could combine together to basically surpass the nasdaq in terms of market share, traded cash equities. you know, it was interesting, a
3:31pm
good point saying it's long expected -- that is true. there needs to be some consolidation in the industry, but it's good for the markets because it reduces complexity. why? when you have exchanges around, how do you know the price? if they trade on different exchanges, the cash equity trades, buyers and sellers together is a declining business, okay? nasdaq is moving away from that. last thing i said, you know, are people going to be fired essentially after this? i reported earlier that he is not, you know, there's been talk, you know, is he held accountable? i don't think it's his fault. you know, he told me that management, in some shape or fashion, will be held accountable. liz: i spoke to a bunch of ceos from nasdaq companies both yesterday and today. they all said to me that the chief information officer needs to either be demoted, replaced, something. whoever is the guy to pick up the phone to talk to both large and small nasdaq companies
3:32pm
matter. >> how many are there? liz: more than 2500. >> could you imagine calling up 2500? liz: can i say something? when there is a snow day at the school, i get an auto phone call. >> just so you know, we were getting notice, adam sampson, you know, an able reporter for our fox business network, works for the dot-com, a great reporter. if he gets the notices, i'm telling you, apple's ceo -- chief information officer can get the notices. bob's problem was not being direct with the media. sounds like they were hiding something when they were not. liz: i asked him, listen, what are the chances that in the future, for a fourth measure, dramatic situation like this, you would quickly partner with the rival exchange just so you could ship trade, and he said, actually, that's a decent idea. we're looking at it. >> now, we've reported for a while now him dancing with various exchanges. bob always backed away.
3:33pm
maybe this is the wakeup call. he's always backed away based on the fact that the other exchanges are bigger, and he'd have to give up control. that's one thing i wondered if he was willing to give it up. dance with the stock exchange, a lot of others, willing to give up control? maybe this is the sign that h's. you know, he's a tough guy. i -- i don't see it. liz: been there ten years. charlie, thank you very much. closing bell in 27 minutes. it's a dog fight in the clouds. big dogs like oracle, ibm, and sales force fighting to keep market share, but one smaller pup, a little chihuahua sized company with powerful backers that believe in it. they are trying to steal some of the big boys easter story. we're talking to the ceo in a fox business exclusive. ♪
3:34pm
[ male announcer ] these days, a small business can save by sharing.
3:35pm
like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more.
3:36pm
at&t mobile share for business. ♪ at&t mobile share for business. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.
3:37pm
ask me what it's like to get your best night's sleep every night. [announcer] why not talk to someone who's sleeping on the most highly recommended d in america? ask me about my tempur-pedic. ask me how fast i fall asleep. ask me about staying asleep. [announcer] tempur-pedic owners are more satisfied than owners of any traditional mattress brand. tempur-pedic. the most highly recommended bed in america. buy a tempur-pedic mattress set and get a free twin tempur-simplicity mattress.
3:38pm
find a store near you at tempurpedic.com. liz: here's a name coming a long way from a fumbled ipo, facebook. trading at an all-time high, finally. >> i'm sure mark says, see, i told you guys, i told you when it was 20 that we were not fairly valued and going higher. today, once again, a new high for facebook and not the all-time highs, those were $45 on last may when they had the ipo, but the fact it broke the $38ipo price and broke 40 bucks, trade, traded at 40.633 a share, a big deal for facebook as they continue to expand revenue, mobile ad revenue. you heard mark talking about the untapped merging markets and countries where people don't have mobile and phones, and he'd like to be able to figure out a
3:39pm
way to get it to millions of more users so i don't think the story of facebook is over, not yet. back to you. liz: a nice story, but we'll never know, but how much higher the stock might have been had a year ago may, we had seen a sort of smoother ipo. nicole, thank you very much. software solutions company, sugar crm. that stands for customer relations management, just landed a huge chunk of wall street money, $40 million of infusion to be exact from goldman sachs. will this cash give the little dog, sugar crm, to take on the big dogs in cloud computing? bringing in the ceo joining me now in a fox business exclusive. you liked that, didn't you, larry? i love this story. >> i think that's the first time we were compared to a chihuahua, liz, so thank you. liz: with more than 6,000 customers, you're not tiny, certainly, but compared to the oracles of the world and
3:40pm
salesforce.com, you're on the way up, but what will you do with the money? >> sure. the money gives us the resources to go after the big dogs in space. if you look at the companies there, you think of them as big companies, but, in fact, look at the market, they are only serving a fraction of the market. those companies combined today have about 20 million users of crm products, but look at the market, there's nearly 500 million people in sales, customer service, and other customer facing role, and we think of our business and our job to serve the other 480 million that the existing guys are missing. liz: what are you doing differently? talking about crm, you can let the customers interact more effectively with customer service representatives and just have a better experience with your clients' companies, but how do you do it differently from
3:41pm
oracle? >> we're writing a big trend today, and that's really the consumerrization of enterprise software. traditionally, crm, called customer relationship management, is about helping a company manage their sales team, so, for example, asking a sales rep, what's the forecast? how many calls have you made? what customers did you visit today? think about that. those measurements don't help a salesperson sale, but what we're doing differently is about helping the seller sell, helping the support rep to answer the question. it's really a focus on the needs of the individual instead of the needs of the business, and this is a broader trend that we see in enterprise software today as many companies look to bring apps that have been built for the user really driven by consumer apps into the company. liz: listen, in november of 2012, you talked about possibly going public. is that on the calendar? what's going on there? >> well, i can't talk about
3:42pm
specific timing, but i've always been a person who believes in building a company to be a large public company. this is a business that can support a large public company, and, you know, it's certainly one of the goals to be public some day. liz: we'll watch it, larry, and i love the name, sugar crm, sweeter than the big boys. >> a little bit sweeter. liz: right, the other big companies, do a lot of things, only a smaller portion of the business in customer relations management. thank you, larry, we'll be watching. >> thank you, liz. liz: larry, the ceo, and "bathman" returns, the super hero franchise continues evolution with a brand new actor taking op the lead role. ben affleck, and fans are, quote, freaking out, taking to twitter to protest. i don't know. they don't like him. will the fresh face mean big bucks or a phloem. dennis, what's wrong? >> fans, that's short for
3:43pm
fanatics, so you have to wonder if any guy is right for the role, but it's a story role. this would be a sequel featuring superman and batman, equal to man of steel, warner brothers out in june, 650 million worldwide. look at the batman through ages. the wrap.com tracked 14 actors back to the 40s that played bathman, and five animated actors. here's where it got going was in 1989 with michael keaton in the modern era, two films with tim burton, he left with that director, and then val, 1995, a successful film, but he quit because the sequel is about the villains, so this comes george clooney in 1997, and sure enough, this theme was stolen by arnold schwarzenegger, so he left, but the most successful of all, 2005, christian bale, the dark night trilogy, taking in two and a half billion dollars,
3:44pm
those three films, starting modestly at 374 million in 2005, and the last in 2012 hit 1.08 billion, and now comes, you know, this guy, ben affleck, a superhero before, the daredevil, but he's a nice guy, boston accent, and what christian and the director chris nolan did was turn batman into a tortured dark character, truer to the comic book origins. you know, superman was the beetles, and batman was the rolling stones, darker, a tougher life, his parents were murdered. fans not happy with this one, but you have to wonder if they would be happy with anybody who dawns the tights. liz: who did you like the best, dennis? >> george clooney would have been great if he stuck with it with the perfect mix of the good looking strong guy and also grit to him.
3:45pm
i liked him. bale, i think, did the best job. liz: an amazing actor, but it was so low and so dark and so boring. >> you got tired of that, did ya? liz: oh, in two seconds. >> your husband might want to keep that in mind. liz: he'll curb the accent. closing bell ringing in 15 minutes. you might call her the great grandmother of texting. this is hard to believe, but one 19th century royal may have been an early pioneer of the shorthand. we'll explain the queen's english in a moment. today's new home sales shock markets because it was so bad. it gave investors pause to thought about housing rebound. when we come back, an inside look at what's really going on in housing with doug bauer, ceo of tripp point homes, public in january, the fox business exclusive. what is he seeing in the trenches?
3:46pm
♪ went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased d blood cell count, headache, diarrhea, vomiting, and increase in psa. ask your doctor about the only underarm low t treatment,
3:47pm
axiron.
3:48pm
3:49pm
3:50pm
liz: apple ready to unvail the next generation smart phone next month getting us thinking about texting and the origins of text speak. turns out that texting or that shorthand language goes back as far as queen victoria's era in britain. how do we know this? the auction house has just sold about 20 written letters by the queen that were written more than a hundred years ago including some short hand that would be familiar to anybody who texts today. contractions like shd for should and wd for would. not including, though, popular text speak like lol and omg.
3:51pm
victoria's short hand, by the way, went for $23,000. that is omg. yolo. investors getting a big jolt from the housing market today, new home sales tumbled more than 13% in july. what happened? well, shares of home builders plummeted sharply on the news. what does that say about the housing recovery? try point homes ceo joins me from california in a fox business exclusive. you were the first housing company to go public in the midst of the housing crisis in january. why do you think we have a bad number today for new home sales? >> hi, liz. yeah, i, frankly, i'm a little bit surprised. you know, we're building in california and denver, both those markets are very supply con trained, and, frankly, we've
3:52pm
opened several new communities between june, july, august, time frames, and, obviously, california and denver supply constrained different than the rest of the world, but we're seeing strong demand in all our communities. they are in a-plus locations. frankly, i was really surprised by the headline noise today. liz: i think a lot of people were. we have our own jeff flock out at a home building area in geneva, illinois saying the same thing, things is absolutely hutching. is it a lagging number? getting you to talk about 30-year mortgage rates because they ticked up to 4 #% on balance. >> you know, i'm not sure what kind of indicator is. we're seeing very strong demand. i've been in the business for 25 years, liz, and interest rates really, in my mind, are not the primary driver of housing demand. you know, job formation, household formation, consumer
3:53pm
confidence. liz: are we seeing that either, meaningful job formation? >> we're seeing job formation in california and in denver, in a very meaningful fashion. the consumers that are coming to our tracks, and i was out at a bunch of the tracks earlier this week talking to our sales people, and people are coming out looking for a product. we're building an excellent locations, a-locations, just aaa projects, and they are talking about product, location, schools. interest rates are not the top topic as they come into the sales office, at least in the markets we're building. liz: fascinating. >> i'm surprised. liz: interesting. you hear it here in a fox business exclusive that all the experience in the trenches is not that slightly higher interest rates, by historical standards are low, are not the driver. why do you think if you run on nearly all cylinders, doug, why do you think the stock is down 20% since the initial public
3:54pm
offering and there's a 14% short on the float? >> huh, well, i'm a little surprised, obviously, i'm actually a major s tripointe home, but as we announced in our ipo, we're a growth company in california, northern california, denver, and so far as we reported, we're hitting all the necessary metrics and -- hitting our game plan perfectly so, you know, our really motto at the company is to continue to deliver great results to the shareholders, and, you know, long term, they'll see excellent results. i'm confident of that. liz: well, your company has a very historied, storied existence. you'll be around for some tile. keep us posted, doug, thank you very much. >> thanks, liz. liz: tripointe homes ceo there saying it's not rising interest rates, but he's having a great
3:55pm
experience where he's building. closing bell ringing in five minutes. what a week it's beenful we'll wrap up heading into the closing bell with a 53-point gain, much microsoft today on the dow jones industrial. ♪ [ male announcer ] you've reached the age where you don't back down from a challenge. this is the age of knowing how to make things happen. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask your doctor if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss
3:56pm
in vision or hearing. this is the age of taking action. viagra. talk to your doctor.
3:57pm
folks have suffered from frequent heartburn. but getting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn. ♪ [ indistinct shouting ]
3:58pm
[ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ liz: if we haven't gotten such an ugly new home sales number maybe we would be even higher than we are now. adam shapiro joins me as we head into the closing bell. >> we want to go to nicole petallides on the floor of the stock exchange. liz: indeed after 107% run-up this year, investors are turning down the sound on at least one stock and that's pandora today.
3:59pm
>> that is interesting. they have had a great run and done something to fix and make things better, 40-hourliesenning cap they rescinded that much that cut into their numbers lowered the outlook. >> don't know which is better, nasdaq didn't crash. facebook, shares topping $40 for the first time as jpmorgan gets bullish on the name. >> great news on both accounts. we'll take them both interesting on facebook the time used went higher. liz: ceo said things are looking great but look at homebuilders today. you have the eft, shb is down 8% over the past three months. >> new home sales and came in as a real disappointment. the biggest drop in over three years. that pushed the group to the
4:00pm
downside. [closing bell ringing] liz: there it is. let's how the stocks finished up, a 40 point gain. microsoft represented 19 points of that gain. steve baller america the ceo says he will be gone in 12 months as he looks to retire. s&p 500 up by six. nasdaq up a half of a percent. russell 2,000 up a fraction. adam: here are the front page headlines. new home sales dropped 13.4% in july, hitting the lowest a annual rate since october. all regions had declines led by the west where sales fell 16.1%. liz: weak housing data helped to lift gdd today. the precious metals jumped $25 to end the week at $1395